Oil inventories rise more than expected last week

MomingZhou

NEW YORK (MarketWatch) -- U.S. crude-oil inventories rose more than expected last week, but gasoline stockpiles had a surprising decline, the Energy Information Administration reported Wednesday. Crude inventories increased by 4.1 million barrels in the week ended April 24, the EIA said, while gasoline inventories decreased by 4.7 million. Analysts surveyed by Platts had expected an increase of 1.8 million barrels in crude and a rise of 900,000 barrels in gasoline supplies. On the New York Mercantile Exchange, crude for June delivery rose 99 cents, or 1.9%, to $50.91 a barrel.

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